3780-3790: A potential price reversal point; buy on dips.

On Friday night, we expect gold to hit a new high of 3800-3810 after holding the key support of 3765-3755. At present, gold has broken through the expected target and is expected to move towards 3830.

The current geopolitical situation has worsened, and the new round of tariffs that came into effect on October 1st has continuously stimulated the market's risk aversion sentiment, causing investors to flock to the gold market to seek risk shelter. Today's news needs to focus on the U.S. trading session. Members of the U.S. Congress from both parties are negotiating on avoiding a government shutdown. The U.S. government faces the risk of shutdown. If it is not effectively resolved, this will affect the subsequent release of key data such as NFP CPI.

With the rising gold price, it has broken through previous resistance and reached a new high. The previous high of 3780-3790 has become a key level for a potential trend reversal. During the European session, if gold retraces to this range, we can consider buying gold with a target of 3820-3830.